Instructor:
Dr. Daniel Rottig
Associate Professor of International Business and Strategic Management
E-Mail: daniel.rottig@adelaide.edu.au

Date Topics/Activities Readings Team Presentations

Tuesday, June 6 - Course Overview
- Team Formation
- Overview of the Multinational Corporation (MNC)
and the Global Environment of MNCs
- Overview Foreign Market Entry Modes
- Course Overview (Syllabus)

The principal objective of this course is to familiarize students with the complexity of entering foreign markets through equity-based entry modes in form of mergers and acquisitions (M&As) by shedding light on the crucial issues that determine the success of M&As and thus, influence the effective management of multinational corporations (MNCs) undertaking these transactions.

On successful completion of this course, students will be able to:

1. Understand the global strategic factors that determine the success of international mergers and acquisitions, and thus the effective management of multinational corporations undertaking these transactions.
2. Demonstrate the ability to apply fundamental international business concepts and analyze the implications of the key global environmental forces for the effective management of MNCs entering foreign markets through mergers and acquisitions.
3. Demonstrate the ability to effectively work in teams and successfully complete team-related tasks and assignments.
4. Demonstrate oral presentation and report writing abilities in a business context.
5. Identify and describe the complexities of managing international mergers and acquisitions and understand the challenges and opportunities of global economic, political, legal, and cultural differences for the management of multinational corporations conducting international mergers and acquisitions.

Reading package (articles, notes and cases) will be discussed in the first class session of the term.

Readings lists and case studies will be provided in the first class session and uploaded to myuni several weeks before the beginning of the course. 

Interactive learning environment based on lectures, class discussions, team presentations and case analyses and discussions.

INTBUS 7016 is a three-unit course offered in truncated (intensive) mode. In addition to attending class, students are expected to prepare readings and case assignments prior to class and review discussed class materials to gain an optimal learning outcome. Workload and time commitment are equivalent to similar courses at this level in the program.

Lectures, class discussions, individual case analyses, team case analyses and presentations, and quizzes to provide students with an opportunity to review the class material and to demonstrate familiarity with crucial concepts, knowledge and facts related to managing multinational corporations undertaking international mergers and acquisitions.


Learning Activities Schedule (subject to change; schedule will be updated by the end of April 2017)

Date	Topic	Readings	Learning Activities
Tuesday, June 6	Course Overview	- Overview of the Multinational Corporation (MNC) and the Global Environment of MNCs - Overview Foreign Market Entry Modes - Course Overview (Syllabus)	Team Formation
Monday, August 7	Introduction to International Mergers and Acquisitions (M&As)	- Strategic Alternatives to M&As - Global Environment of M&As - Takeover Tactics and Antitakeover Measures - Corporate Governance and the Market for Corporate Control READ: Leavy 2013
Tuesday, August 8	Private Equity M&A Strategy (Buy to Sell)	READ: Lerner et al. 2011, Chaplinsky 2015	Case: Tad O’Malley: The Investment Conundrum - Business and Corporate M&A Strategy (Buy to Hold) Team 1: Readings on Private Equity M&A Team 2: Tad O’Malley Case Presentation Team 3: Readings on M&A Strategy
Wednesday, August 9	Quiz 1
	Business and Corporate M&A Strategy (Buy to Hold)	- Business and Corporate M&A Strategy (Buy to Hold) continued - Pre-M&A Planning: Developing an M&A Plan, Target Search and Selection, Due Diligence Process - M&A Valuation Methods and Modeling - M&A Closing: Negotiation, Deal Structuring, Setting the Right Price, Financing Plan/Structure	Case: InBev and Anheuser-Busch
		READ: Schill & Loutskina 2013, Martin & Kemper 2015	Case: Mars and Wrigley Team 4: InBev Case Presentation Team 5: Readings on Setting the Right Price Team 6: Mars/Wrigley Case Presentation
Thursday, August 10	Post-M&A Implementation: Integration Process	- Post-M&A Implementation: Sociocultural Integration in M&As READ Patel 2009, Stein & Cuadrado 2015	Case: GSK’s Acquisition of Sirtis: Independence or Integration? Team 2: Readings on M&A Integration Team 1: GSK Case Presentation Team 4: Readings on Sociocultural Integration in M&As
Friday, August 11	Quiz 2
	Post-M&A Implementation: Integration Process	- Post-M&A Implementation: Sociocultural Integration in M&As continued - M&As in Emerging Markets	Case: A Speed Race: Benelli and QJ Compete in the International Motorbike Arena
		READ: Rottig et al. (in press), Rottig 2016	Case: The Indian Tiger Prowls in Africa: Bharti Airtel’s Acquisition of Zain Africa Team 3: Benelli Case Presentation Team 6: Readings on M&As in EMs Team 5: Bharti Case Presentation

Assessment Task	Weighting	Learning Outcome
Case Briefs	10%	2
Quiz 1	25%	1
Quiz 2	25%	1
Article Summary and Presentation	20%	3,4
Case Analysis and Presentation	20%	1,3,4,5
Total	100%

For specific due dates please see the MyUni page.

5.3 ASSESSMENT DETAIL

Case Briefs
Students will be responsible for submitting written case analyses based on case guide questions for the cases we will discuss over the course of the term. Case analyses are due at the beginning of the class in which each respective case is discussed. Case analyses consist of individual work and each class member is expected to write his/her own analysis. Further details regarding this assignment including case details, case questions and deadlines will be discussed in the first class session. Please also refer to the “Individual Case Briefs Instructions” handout, which is posted on MyUni.

Quizzes
There will be two quizzes over the course of the term. Students will be provided with a review guide to facilitate a focused preparation. These quizzes are an opportunity to revisit the material discussed in class and to demonstrate familiarity with crucial concepts, knowledge and facts related to (global) mergers and acquisitions. See the course timetable (1.3) for the quiz dates.

Team Formation & Composition
The class will be divided into 6 student teams. I will leave it up to you to find team members and form a student team, yet each team should have about the same number of members. Each team should select a team leader upon team formation who will be responsible for submitting assigned team tasks by the deadline in the required format. As the success of multinational corporations often depends on the synergy effects of cross-functional and cross-national teams, I strongly encourage you to make your team as diverse as possible. Furthermore, as it will be necessary for teams to work outside of class, I encourage you to assess whether team members are ‘compatible’ in terms of scheduling team meetings and working together efficiently. It is each team’s responsibility to collaboratively complete the assignments and work out possible conflicts team-internally. In other words, for the team projects, the professor will assign an overall team grade; no individual grades for team members will be assigned. Your team is responsible for completing the team formation and submitting a team information sheet by the end of the first class session of the term. Teams are assigned two tasks:

Article Summary and Presentation
Each team will be assigned to summarize and juxtapose (based on a written report), and present (based on power point slides) the main points of a set of articles, and discuss these readings in the context of our course material. Student teams will need to distribute a copy of their written article analysis reports and presentation slides to all class members via MyUni. In the first class session, further details will be discussed and article assignments will be announced once student teams have formed. Please also refer to the “Team Article Summary and Presentation Instructions” handout, which is posted on MyUni.

Case Analysis and Presentation
Each team will be assigned to analyze (based on a written report) as well as discuss (based on power point slides) a case based on specific case guide questions. In the first class session, further details will be discussed. Please also refer to the “Team Case Assignment Instructions” handout, which is posted on MyUni.